Investment Rating - The investment rating for the company is "Buy" with the previous rating also being "Buy" [1]. Core Views - The company achieved a revenue of 7.281 billion yuan in 2023, representing a year-on-year growth of 11.98%. The net profit attributable to shareholders was 1.424 billion yuan, up 30.50% year-on-year, while the net profit excluding non-recurring items was 1.448 billion yuan, an increase of 26.55% year-on-year. The operating cash flow net amount reached 1.261 billion yuan, growing by 10.82% year-on-year. The gross profit margin was 74.84%, an increase of 1.28 percentage points year-on-year [1][2]. Financial Performance - In Q4 2023, the company reported a revenue of 2.914 billion yuan, a year-on-year increase of 5.36%. However, the net profit attributable to shareholders decreased by 24.29% year-on-year to 818 million yuan, while the net profit excluding non-recurring items was 911 million yuan [1]. - The company’s revenue by product line in 2023 included: - Wealth Technology Services: 1.734 billion yuan, up 4.27% year-on-year - Asset Management Technology Services: 1.712 billion yuan, up 9.27% year-on-year - Operations and Institutional Technology Services: 1.436 billion yuan, up 14.32% year-on-year [1]. - The company maintained a focus on refined operations, with revenue growth outpacing overall expense growth. Total expenses for sales, management, and R&D were 4.204 billion yuan, a year-on-year increase of approximately 9.68% [1]. Future Earnings Forecast - The company is projected to have earnings per share (EPS) of 0.93 yuan, 1.06 yuan, and 1.23 yuan for the years 2024, 2025, and 2026, respectively. The corresponding price-to-earnings (P/E) ratios are expected to be 25.79, 22.53, and 19.40 [2][3]. Market Position - The company is recognized as a leading player in the domestic financial IT sector, ranking 22nd globally and 1st in Asia in the 2023 IDC Fintech rankings [2].

计算机 公 2024年03月25日 司 报 恒生电子(600570.SH) 告 公司净利率提升，打造“更多一流产品” 强烈推荐 ( 维持 ) 事项： 公司公告2023年年报，2023年实现营业收入72.81亿元，同比增长11.98%， 股价:23.93元 实现归母净利润14.24亿元，同比增长30.50%，EPS为0.75元。2023年利润分 公 主要数据 配预案为：拟每10股派现金1.3元（含税）。 行业 计算机 司 平安观点： ...

Financial Performance - As of the end of 2023, the company's total assets reached 14.354 billion RMB, a year-on-year increase of 10.32%[10]. - The net profit for 2023 was 1.424 billion RMB, representing a year-on-year growth of 30.50%[10]. - The operating revenue for 2023 was 7.281 billion RMB, showing a year-on-year increase of 11.98%[10]. - The company's operating revenue for 2023 was approximately ¥7.28 billion, representing an increase of 11.98% compared to ¥6.50 billion in 2022[23]. - The net profit attributable to shareholders for 2023 was approximately ¥1.42 billion, reflecting a growth of 30.50% from ¥1.09 billion in 2022[23]. - The net cash flow from operating activities for 2023 was approximately ¥1.26 billion, an increase of 10.82% compared to ¥1.14 billion in 2022[23]. - The total assets at the end of 2023 were approximately ¥14.35 billion, up 10.32% from ¥13.01 billion at the end of 2022[23]. - The net assets attributable to shareholders at the end of 2023 were approximately ¥8.03 billion, representing a growth of 17.86% from ¥6.81 billion at the end of 2022[23]. - The basic earnings per share for 2023 was ¥0.75, an increase of 31.58% compared to ¥0.57 in 2022[24]. - The weighted average return on equity for 2023 was 19.27%, an increase of 1.91 percentage points from 17.36% in 2022[24]. Shareholder Returns - The company plans to distribute a cash dividend of 1.30 RMB per 10 shares, totaling approximately 246.05 million RMB[3]. - The company has cumulatively returned over 3 billion RMB to shareholders through dividends and buybacks since its listing[14]. - The total cash dividend amount (including tax) was CNY 429,242,044.19, which accounted for 30.2% of the net profit attributable to ordinary shareholders in the consolidated financial statements[124]. Strategic Initiatives - The company has established the "Hengsheng Vision 2030" to become a global leader in financial technology by 2030[12]. - The company aims to enhance customer satisfaction and product quality, focusing on delivering first-class products[13]. - The company plans to continue expanding its market presence and enhancing its product offerings in the financial technology sector[17]. - The company aims to strengthen its strategic partnerships and explore potential mergers and acquisitions to drive growth[17]. - The company is committed to sustainable development and has established a sustainability committee in 2023[14]. - The company aims to integrate ESG principles into its operations, focusing on financial empowerment and low-carbon strategies[37]. Research and Development - Research and development expenses totaled 2.661 billion RMB, accounting for 36.55% of total revenue[34]. - The company launched the LightGPT model, enhancing its capabilities in data intelligence and business empowerment[35]. - The company is focused on developing new products and technologies to meet the evolving needs of its clients[17]. - The company is investing heavily in R&D, allocating 10% of its revenue, approximately 150 million CNY, towards developing new technologies and products[101]. Market Expansion - The company anticipates continued growth in technology investments from financial institutions, providing ample market opportunities[11]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in regional sales by the end of 2024[94]. - The company is exploring potential acquisitions to bolster its technology portfolio, with a budget of 500 million allocated for this purpose[97]. - The company is actively pursuing market expansion strategies to increase its market share in the software industry[200]. Operational Efficiency - The company's gross margin for its main business was 74.85%, showing an improvement over the past two years[30]. - The company plans to enhance its agile business delivery platform to reduce R&D costs and improve project delivery efficiency[51]. - Operational efficiency initiatives are projected to reduce costs by 8%, contributing to improved profit margins[97]. Financial Position - The company reported a significant increase in long-term equity investments, rising to CNY 1,685,276,378.98 in 2023 from CNY 1,270,543,073.31 in 2022, a growth of approximately 32.5%[173]. - The company's total liabilities decreased slightly to CNY 5,509,007,744.76 in 2023 from CNY 5,536,052,377.05 in 2022, a reduction of about 0.5%[174]. - The company's equity attributable to shareholders increased to CNY 8,028,899,065.67 in 2023, up from CNY 6,812,018,437.54 in 2022, representing a growth of approximately 17.9%[175]. Compliance and Governance - The company has retained Tianjian Accounting Firm for auditing services, ensuring compliance and accuracy in financial reporting[88]. - The internal control audit report for 2023 received a standard unqualified opinion from Tianjian Accounting Firm[130]. - The company has established mechanisms for environmental protection and has reported on its social responsibility efforts in a separate sustainability report[134]. Employee Engagement - The company is implementing a stock option incentive plan for employees, which may enhance employee motivation and retention[107]. - The company has implemented a training plan to enhance the overall quality of its workforce[119]. - The company has a total of 1,780 employees with a master's degree or above, and 10,516 with a bachelor's degree[117]. Future Outlook - The company aims for steady revenue growth in 2024, with expenses expected to be lower than revenue growth[83]. - The company provided guidance for the next fiscal year, projecting revenue growth of 15% to reach approximately 1.725 billion CNY[101]. - Future guidance indicates a focus on enhancing shareholder value through strategic investments and potential market expansion initiatives[190].

2024 年 3 月 24日，公司发布 2023 年报。公司2023年全年实现 营收 72.8 亿元，同比增长12.0%；实现扣非后归母净利润14.5亿 元，同比增长26.5%。公司 2023 年单Q4 实现营收29.1 亿元， 同比增长 5.4%；实现扣非后归母净利润 9.1 亿元，同比增长 11.9%。 分业务而言：1）财富科技全年同比增长4.3%，主要系市场对信 创类产品需求未完全释放。目前UF3.0 在头部券商竣工，并新签 2 家战略客户，为批量上线做准备。2）资管科技全年同比增长 9.3%，目前O45 已完成全栈信创研发，新签 53 家新客户、完成 24 家客户竣工。3）运营与机构客户全年同比增长14.3%。新一 代 TA新签近百家客户，并在头部客户上线竣工；互联网TA上 线 18 家客户；新一代估值系统签订30 多家客户，并在头部基金 替换友商。4）风险与平台科技全年同比增长19.1%，持续保持 良好发展势头。5）数据服务全年同比增长19.3%，主要系聚源 人民币(元) 成交金额(百万元) 营收同比增长20%，其中基础数据产品稳健增长，大模型应用产 61.00 5,000 4,500 54.00 ...

目 录 一、非经营性资金占用及其他关联资金往来情况的专项 审计说明…………………………………………………………第 1—2 页 二、非经营性资金占用及其他关联资金往来情况汇总表…………第 3—3 页 非经营性资金占用及其他关联资金往来情况的 专项审计说明 天健审〔2024〕535 号 恒生电子股份有限公司全体股东： 我们接受委托，审计了恒生电子股份有限公司（以下简称恒生电子公司）2023 年度财务报表，包括 2023 年 12 月 31 日的合并及母公司资产负债表，2023 年度 的合并及母公司利润表、合并及母公司现金流量表、合并及母公司所有者权益变 动表，以及财务报表附注，并出具了审计报告。在此基础上，我们审计了后附的 恒生电子公司管理层编制的 2023 年度《非经营性资金占用及其他关联资金往来 情况汇总表》（以下简称汇总表）。 一、对报告使用者和使用目的的限定 本报告仅供恒生电子公司年度报告披露时使用，不得用作任何其他目的。我 们同意将本报告作为恒生电子公司年度报告的必备文件，随同其他文件一起报送 并对外披露。 为了更好地理解恒生电子公司 2023 年度非经营性资金占用及其他关联资金 往来情况，汇总表应当与 ...

目 录 | 一、审计报告……………………………………………………… 第1—6 | | 页 | | --- | --- | --- | | 二、财务报表……………………………………………………… 第 7—14 | | 页 | | （一）合并资产负债表…………………………………………… 第 | 7 | 页 | | （二）母公司资产负债表………………………………………… 第 | 8 | 页 | | （三）合并利润表 …………………………………………………第 | 9 | 页 | | （四）母公司利润表………………………………………………第 | 10 | 页 | | （五）合并现金流量表……………………………………………第 | 11 | 页 | | （六）母公司现金流量表…………………………………………第 | 12 | 页 | | （七）合并所有者权益变动表……………………………………第 | 13 | 页 | | （八）母公司所有者权益变动表…………………………………第 | 14 | 页 | | 三、财务报表附注………………………………………………第 15—137 | | 页 | | 四、附件 ……………………………… ...

恒生电子股份有限公司 证券代码：600570 证券简称： 恒生电子 编号：2024-011 恒生电子股份有限公司 关于续聘会计师事务所的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 拟聘任的会计师事务所名称：天健会计师事务所（特殊普通合伙） 恒生电子股份有限公司（以下简称"公司"）于 2024 年 3 月 22 日召开第 八届董事会第十四次会议审议通过了《关于续聘天健会计师事务所（特殊普通 合伙）及其报酬的议案》，同意续聘天健会计师事务所（特殊普通合伙）作为公 司 2024 年度财务审计机构及内部控制审计机构。本事项尚需提交公司股东大会 审议并自公司股东大会审议通过之日起生效。现将相关事项具体内容公告如 下： 一、拟续聘的会计师事务所的基本情况 （一）机构信息 1. 基本信息 | 事务所名称 | 天健会计师事务所（特殊普通合伙） | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 成立日期 2011 | 年 7 月 18 日 | 组织形式 ...

证券代码：600570 证券简称：恒生电子 编号：2024-017 恒生电子股份有限公司 关于会计政策变更的公告 （二）变更前采用的会计政策 本次会计政策变更前，公司执行财政部颁布的《企业会计准则—基本准则》和 各项具体会计准则、企业会计准则应用指南、企业会计准则解释公告以及其他相关规 定。 （三）变更后采用的会计政策 本次会计政策变更后，公司将按照财政部发布的《企业会计准则解释第 16 号》 相关规定执行，其余未变更部分仍按照财政部前期颁布的《企业会计准则——基本 准则》和各项具体会计准则、企业会计准则应用指南、企业会计准则解释公告以及 其他相关规定执行。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 恒生电子股份有限公司（以下简称"公司"）本次会计政策变更系根据中华人 民共和国财政部（以下简称"财政部"）发布的相关企业会计准则解释而进行的相应 变更，无需提交公司董事会和股东大会审议，不会对公司财务状况、经营成果和现金 流量产生重大影响。 一、本次会计政策变更概要 （一）会计政策变更原因及变更时间 2022 ...

恒生电子股份有限公司 证券代码：600570 证券简称： 恒生电子 编号：2024-010 恒生电子股份有限公司 第八届监事会第十四次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内 容的真实性、准确性和完整性承担法律责任。 恒生电子股份有限公司（以下称"公司"）第八届监事会第十四次会议于 2024 年 3 月 22 日于公司会议室举行。本次会议以现场结合通讯表决的方式召 开，应参与表决监事 3 名，实际参与表决监事 3 名，监事长蒋建圣先生主持了 本次会议。根据《公司法》和公司《章程》有关规定，会议合法有效。 一、审议通过《公司 2023 年度报告全文及摘要》，同意 3 票，弃权 0 票， 反对 0 票，并同意递交公司股东大会审议。 经与会监事认真讨论和表决，审议通过如下决议： 六、审议通过《公司 2023 年度利润分配预案》，同意 3 票，弃权 0 票， 反对 0 票，并同意递交公司股东大会审议。 监事会认为：公司 2023 年度利润分配预案符合有关法律、法规和公司《章 程》的规定，该利润分配预案在保证公司持续发展经营的前提下给予了全体股东 合理的投资 ...

恒生电子股份有限公司 2023 年度独立董事述职报告 作为恒生电子股份有限公司（以下简称"公司"）的独立董事，本人严格按 照《公司法》《上市公司独立董事管理办法》《公司章程》及《独立董事工作制度》 等有关规定，在 2023 年的工作中，勤勉、尽责、忠实履行职责，按时出席相关 会议，认真审议各项议案，对公司相关事项发表独立意见，切实维护全体股东尤 其是广大中小股东的合法权益。现将本人在 2023 年度履行独立董事职责的情况 报告如下： 一、独立性情况 丁玮，男，1960 年出生。1982 年毕业于中国人民大学财政金融系本科，1984 年-1987 年获福布兰特奖学金就学于美国奥斯丁德克萨斯大学经济系攻读博士 研究生课程, 1998 年在哈佛商学院完成高管培训班进修。丁先生在银行金融领 域有着广泛的经验。曾经在世界银行、德意志银行、中金公司、淡马锡等组织和 机构任职。丁玮先生现为博润资本创始人兼董事长，现任国泰君安证券股份有限 公司、重庆长安汽车股份有限公司、本公司独立董事。 本人通过进行独立董事独立性情况年度自查，符合中国证监会《上市公司独 立董事管理办法》中关于独立性的规定，不存在任何影响独立性的情形，并已将 ...